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Jan. 24, 2022, 8:44 a.m. EST

KKR taking Dutch EV bike maker Accell Group private

KKR & Co. and Accell Group NV (OTC:ACGPF) (AMS:NL:ACCEL) said Monday they agreed to a buyout deal where KKR would take the Dutch electric bike maker private for the equivalent of about $1.8 billion in cash. KKR will pay EUR58.00 per share for Accell, which amounts to a a premium of 26% over the stock's closing price on Friday. "The consortium will provide experience and resources to accelerate the growth and roll-out of the Group's business strategy, including potential acquisitions," the companies said. Accell's headquarters will remain in Heerenveen, the Netherlands, with the current management team in place, led by CEO Ton Anbeek. Shares of Accell Group rose 24.7% in European trading, while KKR shares fell 1.4% in premarket trading.

Link to MarketWatch's Slice.